Investing in a Costco Membership vs. a 5% APY CD: Which Is the Better Deal Right Now?
Wednesday, 22 May 2024, 15:00
Why a Costco Membership Is a Better Investment Than a 5% APY CD
Spending money on a Costco membership could save you a lot. Here's why it's a better investment than a CD right now.
Certificates of deposit (CDs) are red hot
Certificates of deposit (CDs) are offering interest rates around 5.00%. Opening one might not be the best financial move for you right now.
- Losing access vs. gaining access:
- A $120 per year Executive membership provides exclusive perks and savings at Costco.
- Earnings vs. savings:
- Costco Executive members save more annually than earnings from a top CD.
- Why not do both?
- Consider combining Costco savings with CD or high-yield savings account.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.